Evelyn Partners Group has completed the sale of its Fund Solutions business, operated by Evelyn Partners Fund Solutions Limited (EPFL), to Thesis Holdings Limited (Thesis).
The deal follows the sale of its professional services business which completed on 31 March, the company said that the sale of EPFL "strategically refocuses" Evelyn Partners on its wealth management activities.
For Thesis, the acquisition means the enlarged independent fund governance and administration business will manage 330 funds with over £50bn of assets.
The transaction sees 75 staff who support the EPFL business, predominantly based in Glasgow, transfer across to Thesis.
Paul Geddes, pictured above, chief executive of Evelyn Partners, said: “The sale of EPFL to Thesis, means Evelyn Partners is now focused solely on wealth management activities. I would like to thank the team at EPFL for their commitment and professionalism and wish them well for the future as part of Thesis. We look forward to an ongoing relationship with the team, who will continue to act as ACD and Fund Administrator to numerous funds where Evelyn Partners is the delegated investment manager and where clients with benefit from complete continuity in service.”
David Tyerman, chief executive of Thesis, welcomed the EPFL team to Thesis. "Their reputation in the market is excellent and, like us, they have a culture founded in high-quality professional services," he said. "Having EPFL in the group increases choice for our sponsors, as well as introducing greater scale for Thesis. Ultimately this will ensure good outcomes for our fund investors.”
